＜Research＞M Stanley: CN's Raise of Duty Allowance for Mainlanders Shopping in HK, MO Boosts Sentiment

　　Morgan Stanley noted in a report that the Chinese Central Government has announced an increase in the tax allowance for Mainland visitors making purchases in Hong Kong and Macau to a maximum of RMB15,000, which will take effect from 1 July. The increase is expected to help boost Mainland visitors' desire to spend in Hong Kong and boost retail spending, especially on high-priced goods.

　　According to the Hong Kong Tourism Board, the average per capita spending of overnight and same-day visitors from Mainland China in 4Q23 was $6,100 and $1,300 respectively. The broker believed WHARF REIC (01997.HK) -0.150 (-0.719%) Short selling $1.37M; Ratio 5.126% , HYSAN DEV (00014.HK) 0.000 (0.000%) Short selling $1.90M; Ratio 66.647% and LINK REIT (00823.HK) +0.350 (+1.167%) Short selling $8.97M; Ratio 21.385% could benefit from this new policy.

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　　As for Macau's gaming industry, the new measures are expected to help reduce regulatory risks and improve market sentiment. This is the fourth supportive policy the central government has introduced to Macau this year.

　　Figures showed that excluding gaming fees, the average per capita spending of visitors to Macau in 1Q24 was MOP2,300. The broker believed that this has been diluted by a large number of non-gaming tourists, and expected that the new measures could attract more middle- and low-end customers to visit Macau.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-28 12:25.)

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